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  • Members Only: 2018 HFTP Compensation and Benefits Report

    By Tanya Venegas, MBA, MHM, CHIA. Results to the biannual survey conducted by Hospitality Financial and Technology Professionals (HFTP). Information includes data on compensation and benefits trends for finance and technology professionals in the club and lodging industries.

  • Success in the Sunshine State: Highlights from HFTP's 2018 Florida Regional Conference

    The beautiful Sarasota Westin Hotel — with its bright white facade, multitudinous windows and stunning rooftop pool area — made a very picturesque setting for the 2018 HFTP Florida Regional Conference, which took place July 25–27, 2018.

  • Annual Convention 2018: A True HFTP Experience in the Land of the Kentucky Derby

    On the bank of the Ohio River in the east south-central region of the United States looms Kentucky’s largest city, Louisville — home to the famed Kentucky Derby horse race, Kentucky Fried Chicken (KFC) and Louisville Slugger baseball bats.

  • Members Only: IT Spending in the Lodging Industry Three-year Analysis: 2015–2017

    By Agnes DeFranco, Ed.D., CHAE; Arlene Ramirez, CHE, CHAE; and Tanya Venegas, MBA, MHM, CHIA. PART II: An analysis of IT spending data in the lodging industry based on reporting in the new USALI Schedule 6 — Information and Telecommunications Systems.

Belmond Announces Review of Strategic Alternatives to Enhance Shareholder Value

Belmond ·10 August 2018
Belmond Ltd. (NYSE: BEL), owners, part-owners or managers of 46 luxury hotel, restaurant, train and river cruise properties, which operate in 24 countries, today announced that its Board of Directors has initiated a comprehensive review of strategic alternatives to enhance shareholder value.Belmond's iconic properties include Belmond Hotel Cipriani in Venice, Belmond Hotel Splendido in Portofino, Belmond Copacabana Palace in Rio de Janeiro, Belmond Le Manoir aux Quat'Saisons in Oxford, Belmond Grand Hotel Europe in St. Petersburg, Belmond El Encanto in Santa Barbara, and the storied '21' Club restaurant in New York."The Board is committed to pursuing a path that is in the best interests of all Belmond shareholders. Accordingly, we are conducting a robust review of the full range of strategic, operational and financial alternatives available to the Company, including a possible sale," said Roland Hernandez, Chairman of the Board of Directors. "We have made meaningful progress toward our long-term strategic goals, including growing earnings, increasing brand awareness, and expanding our global footprint. We believe that now is the right time to conduct a strategic review process in order to enhance value for shareholders, given Belmond's truly exceptional and unique collection of iconic owned properties and strong fundamentals in our markets around the world."No assurances can be given regarding the outcome or timing of the review process. The Company does not intend to make any further public comment regarding the review until it has been completed or the Company determines that disclosure is required or beneficial.The Board has engaged Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC as financial advisors and Weil, Gotshal & Manges LLP as legal advisor to assist in its review.

Belmond Ltd. Selected by Cadogan Estates Limited to Manage The Cadogan, a 64-key Hotel in London

Belmond · 9 July 2014
Belmond Ltd. (NYSE: OEH, belmond.com ("Belmond" or the "Company"), owners, part-owners or managers of 45 luxury hotel, restaurant, tourist train and river cruise properties operating in 22 countries, today announced that it has signed a management agreement with Cadogan Estates Limited to operate The Cadogan, a 64-key hotel on Sloane Street in the heart of Chelsea, London, as part of the Company's collection of luxury hotels and travel experiences.The agreement comes at an exciting time in the 127-year history of The Cadogan, as the hotel will close at the end of the month to undergo a $48 million investment project. The fully renovated and re-conceptualized Belmond Cadogan will open in summer 2016. Working in tandem with Belmond and Blair Associates Architects, Cadogan Estates will fund the redevelopment, which will include the complete refurbishment of all public areas and the reconfiguration of 64 keys to 54 in order to accommodate demand from luxury travelers for larger junior suites and suites. The interior design project will be carried out by the London office of GA Design International, experts in international luxury hospitality design.Built in 1887 in the Queen Anne style, The Cadogan has played an integral role in the social history of the Kensington and Chelsea area. The design project will draw inspiration from the beautiful architectural character of The Cadogan and surrounding neighborhood as well as the hotel's rich heritage, creating a stylish retreat and meeting place for international visitors and the local community. Belmond Cadogan will also offer a new gourmet dining experience opening out onto Sloane Street with views of Cadogan Place Gardens, taking advantage of the hotel's superb location at the heart of one of London's most vibrant and affluent retail areas."With its incredible heritage, unrivaled location and contemporary classic design, Belmond Cadogan will be renowned for its understated glamor and unique character, as well as for its standards of excellence in service and hospitality," said John M. Scott, President and Chief Executive Officer of Belmond Ltd. "We are very pleased to be working together with Cadogan Estates on what will become one of London's foremost luxury hotels and to be partnering with an owner who shares our vision for offering authentic and one-of-a-kind luxury travel experiences."Hugh Seaborn, Chief Executive of Cadogan Estates, commented, "The Cadogan has a colorful history - once home to Lillie Langtry where she courted the future King of England and also the location of Oscar Wilde's infamous arrest - and a wonderful future. With its depth of experience overseeing the sensitive renovation of historic buildings and track record in luxury hospitality, Belmond is the perfect partner for us to preserve The Cadogan's unique heritage, while evolving the hotel into a luxury retreat for today's luxury traveler. It fits perfectly with Sloane Street's international cachet and our vision and strategy for ensuring it becomes the most exclusive and luxurious shopping street in the world."Belmond owns and operates four other businesses within Great Britain: the Belmond British Pullman, Belmond Northern Belle and Belmond Royal Scotsman luxury rail experiences, as well as Belmond Le Manoir aux Quat'Saisons, a 32-key hotel and two-Michelin star restaurant in Oxfordshire.About CadoganThe Cadogan Estate has been in the same family ownership for more than 300 years and spans 93 acres of Chelsea and Knightsbridge. At the heart of London's most fashionable districts to live, work and play the estate includes some of the world's finest retail and leisure destinations, Sloane Street, the King's Road and Duke of York Square. The foundations of the Cadogan Estate were established in 1717 when Charles, 2nd Baron Cadogan (1685-1776) married Elizabeth Sloane, daughter of Sir Hans Sloane (1660-1753) who had purchased the Manor of Chelsea in 1712. The Cadogan Group Limited is the holding company for the property investment business of the family of Earl Cadogan. The company is owned by a number of charitable and family trusts. cadogan.co.uk

Orient-Express Hotels Ltd. Changes Corporate Name to Belmond Ltd.

Belmond · 2 July 2014
"This decision gives clarity to our brand architecture and, combined with changing our ticker symbol later this month, is the final stage in our successful transition to Belmond.""We are pleased to be able to align our corporate identity with that of our primary luxury brand, Belmond, following its well-received launch earlier this year," said John M. Scott, president and chief executive officer of Belmond Ltd. "This decision gives clarity to our brand architecture and, combined with changing our ticker symbol later this month, is the final stage in our successful transition to Belmond."Shareholders also approved the election of eight directors to the Company's board of directors at the AGM, including a new independent director, Roeland Vos, a seasoned business executive with strong board and luxury hospitality operations experience. The reappointment of Deloitte LLC as the Company's independent auditors was also approved by shareholders.

Newly Launched Belmond Invites Guests To Discover A World Of Legendary Travel Experiences

Belmond ·14 March 2014
Building on a legacy dating back to 1976, Belmond embraces the diversity and breadth of this exclusive portfolio, allowing guests to better identify between hotels, trains, safaris and river cruises while enticing them to explore the wider collection. Derived from the Latin for 'beautiful ' and 'world', Belmond represents a continued commitment to creating authentic travel experiences spanning city landmarks, intimate resorts and unique travel adventures.Providing discerning travellers with exceptional service, unforgettable memories, surprising adventures and a sense of the unique remains integral to the spirit of Belmond. Many of the collection sit beside the globe's most celebrated sights - Belmond Sanctuary Lodge in Machu Picchu, Belmond Mount Nelson Hotel by Table Mountain in Cape Town and Belmond Hotel das Cataratas next to Brazil's Iguassu Falls - and Belmond continues to showcase the individuality of each of its offerings while aligning them with the broader spectrum, maximising appeal to guests continuing on their journey of discovery.Belmond is passionate about helping guests explore each vibrant destination to the fullest, offering an array of one-of-a-kind experiences from a hot air balloon over the pagodas of Bagan to a Shaman marriage blessing by Machu Picchu or a private tasting of Burgundy's 33 Grand Crus.The launch of Belmond includes a stylish new website, BELMOND.COM, which aligns the collection with the new brand name and has been designed to appeal to both travellers seeking inspiration and those who already have a clear idea of their travel needs. Social media handles have also been updated to showcase the new brand across all channels, including @Belmond and the hashtag #DiscoverBelmond on Twitter. The Belmond logo features throughout the collection and includes an orbit motif, which is aptly based on mathematical principles dating back to early quests for discovery.Established in 1976, the brand began with the iconic Belmond Hotel Cipriani in Venice followed by the fabled Venice Simplon-Orient-Express. Nearly 40 years on, the curated collection now encompasses 45 luxury hotels and travel experiences in some of the world's most celebrated destinations.

Orient-Express Hotels Ltd. to Launch Belmond Brand

Belmond ·24 February 2014
New name designed to increase brand recognition in order to drive growth by attracting new guests and stimulating visits from existing customers across the breadth of iconic hotel and travel collectionEnables Company to enhance its strong customer loyalty and one-of-a-kind luxury experiencesCompany expects to invest $5.0 million in new brand during first year, with a further $10.0 million expected to be invested over the subsequent four yearsHAMILTON, Bermuda | Orient-Express Hotels Ltd. (NYSE:OEH) (the "Company") today announced that its board of directors has approved a proposal to operate the Company's collection of luxury hotels and travel experiences under a new brand name, Belmond, effective March 10, 2014."We are excited to launch the Belmond brand, which will heighten awareness of our exceptional collection of hotels and luxury travel experiences among existing and potential new guests," said John M. Scott, president & chief executive officer, Orient-Express Hotels Ltd. "Our new brand strategy is designed to build on our strong legacy and celebrate the individuality and character of our properties, as well as stimulate increased stays across the breadth of our portfolio from our existing client base. Strengthening our brand architecture will also make the Company attractive to property owners as we advance in our strategy of expanding into the third-party management of assets that complement our existing collection."Extending our global brand presence by having a name that will be associated as much with our hotels and river cruises as with our celebrated train experiences is a key step in our focus of generating enhanced revenue," continued Mr. Scott. "Migrating from a licensed brand to one which we fully own and control will, we believe, deliver an additional benefit to the Company as it will enable us to invest with confidence in our brand.""Belmond was chosen after extensive research and evaluation of a number of alternatives in order to identify a name that resonates well with our guests and that encompasses the global collection of unique experiences we are today," said Ralph Aruzza, chief sales & marketing officer. "We will establish Belmond by investing $5.0 million in enhanced promotional and marketing initiatives during its first year, with an additional $10.0 million over subsequent years. This investment will include new website platforms, re-engineered customer relationship management tools, and the Company's first ever large-scale print and online media advertising campaign."The Company will retain its long-term license agreement with SNCF, the French transportation company that owns the Orient-Express trademark, for the Venice Simplon-Orient-Express train. With the decision to introduce the Belmond brand, the Company also entered into an agreement with SNCF to terminate the existing Orient-Express license for hotel use without any cost or penalty.The Company will conduct a live webcast for members of the investment community to discuss this announcement on Monday, February 24, 2014 at 8:30 a.m. EST (1:30 p.m. GMT). The webcast will be available on the Company's investor relations website at www.orient-expresshotelsltd.com by selecting the webcasts / presentations link on the left-hand side of the page. A replay of the webcast will be available on the Company's investor relations website after the live event and will be accessible for one year.The audio for the webcast will also be accessible at +1 877 280 1254 (US toll free), +44 (0)20 3427 1909 (standard international) or 0800 279 5004 (UK freephone). The confirmation code is 5957570. A replay of the conference call will be available by telephone until 6:59 p.m. EST (11:59 p.m. GMT) on Monday, March 3, 2014 and will be accessible by calling +1 866 932 5017 (US toll free), +44 (0)20 3427 0598 (standard international) or 0800 358 7735 (UK free phone). The passcode is 5957570.Owned and operated by Orient-Express Hotels Ltd., Belmond is a global brand of exceptional hotel and luxury travel adventures in some of the world's most inspiring and enriching destinations. Established over 30 years ago with the acquisition of Hotel Cipriani in Venice, its unique and distinctive portfolio now embraces 45 hotel, rail and river cruise experiences in many of the world's most celebrated destinations. From city landmarks to intimate resorts, the collection includes Grand Hotel Europe in St. Petersburg, Copacabana Palace in Rio de Janeiro, Maroma Resort and Spa on Mexico's Riviera Maya, and El Encanto in Santa Barbara. Belmond also encompasses safaris, six luxury tourist trains including the Venice Simplon-Orient-Express and three river cruises. Orient-Express Hotels Ltd. also operates '21', one of New York's most storied restaurants. The website orient-express.com will be redirected on March 10 to belmond.com. For images, please visit orient-expressimages.com.This news release and related oral presentations by management contain, in addition to historical information, forward-looking statements that involve risks and uncertainties. These include statements regarding the future effects of introduction of a new brand, expected future investment in the new brand, expansion of the Company's third-party management business and similar matters that are not historical facts. These statements are based on management's current expectations, are not guarantees of performance and are subject to a number of uncertainties and risks that could cause actual results to differ materially from those described in the forward-looking statements. Factors that may cause a difference include, but are not limited to, those mentioned in the news release and oral presentations, unknown effects on the travel and leisure markets of terrorist activity and any police or military response, varying customer demand and competitive considerations, failure to realize hotel bookings and reservations and planned real estate sales as actual revenue, inability to sustain price increases or to reduce costs, rising fuel costs adversely impacting customer travel and the Company's operating costs, fluctuations in interest rates and currency values, uncertainty of negotiating and completing proposed asset sales, debt refinancings, capital expenditures and acquisitions, inability to reduce funded debt as planned or to agree bank loan agreement waivers or amendments, adequate sources of capital and acceptability of finance terms, possible loss or amendment of planning permits and delays in construction schedules for expansion projects, delays in reopening properties closed for repair or refurbishment and possible cost overruns, shifting patterns of tourism and business travel and seasonality of demand, adverse local weather conditions, uncertain effects of the introduction of new brands and possible challenges to the Company's ownership of new brands, the Company's reliance on technology systems, changing global or regional economic conditions and weakness in financial markets which may adversely affect demand, legislative, regulatory and political developments, and possible challenges to the Company's corporate governance structure. Further information regarding these and other factors is included in the filings by the Company with the U.S. Securities and Exchange Commission. The Company undertakes no obligation to update or revise publicly any forward-looking statement, whether due to new information, future events or otherwise.

Orient-Express Hotels Ltd. Continues Renewal Of Board of Directors

Belmond · 8 May 2013
Roland Hernandez Nominated To Board; Will Become Chairman Following June 28 AGMBob Lovejoy and Philip Mengel To Retire at AGMFour Of Eight Directors Will Be New In Past Two Years HAMILTON, Bermuda - Orient-Express Hotels Ltd. (NYSE; OEH, www.orient-express.com) (the "Company") today announced that its Board of Directors has nominated Roland Hernandez, 55, as an independent member of the Board. Mr. Hernandez is a highly successful media and entertainment executive with broad public company board experience including in the hospitality industry, where he has served as the lead director of MGM Resorts International and Vail Resorts, Inc."This is a unique opportunity to serve on the Board of one of the world's leading luxury travel brands. I am looking forward to working with my fellow directors as well as John and his team to deliver growth and value for investors in the years to come."The Company also announced that Chairman J. Robert Lovejoy and Board member Philip R. Mengel will retire from the Board upon the expiration of their terms at the Company's Annual General Meeting on June 28, 2013. Immediately following his election to the Board at the AGM, the Board intends to name Mr. Hernandez Chairman.With the addition of Mr. Hernandez, Orient-Express Hotels Ltd. is continuing to build on the foundation for the new era of renewal and growth that began with the appointment of John M. Scott as President and Chief Executive Officer in November 2012. Following the AGM, the Board will have eight directors, four of whom will have joined the Board in the past two years.Prudence Leith, Chair of the Board's Nominating and Governance Committee, said, "On behalf of the entire Board, I would like to express how grateful we are to Bob and Philip for their years of dedicated and able service to Orient-Express Hotels - including as interim CEOs as well as directors and, in Bob's case, as Chairman. They have both made substantial contributions to the Company's successful evolution, and we wish them the very best in their future endeavors."Mr. Scott said, "Although we will miss Bob and Philip's wisdom and guidance, we are excited that Roland will be joining the Orient-Express Board. He will bring to the Board impressive experience and will provide invaluable counsel as we execute on our go-forward strategy to capitalize on the Company's strong brand and unique assets."Mr. Lovejoy said, "It has been my sincere pleasure and honor to serve on the Orient-Express Board since 2000 and as Chairman and interim CEO. I am proud of what the Company has accomplished to date and have every confidence it will continue to grow and flourish under the leadership of John Scott as CEO and Roland Hernandez as Chairman."Mr. Mengel said, "Orient-Express Hotels is a great company which has tremendous potential under John's leadership. Its impressive assets are unmatched in the industry and I look forward to closely watching its continued success."Mr. Hernandez said, "This is a unique opportunity to serve on the Board of one of the world's leading luxury travel brands. I am looking forward to working with my fellow directors as well as John and his team to deliver growth and value for investors in the years to come."Roland Hernandez has been the Founding Principal and Chief Executive Officer of Hernandez Media Ventures since 2001. He previously served as Chief Executive Officer of Telemundo Group, Inc. from 1995 to 2000. He founded Interspan Communications and served as President from 1986 to 1994. He currently is on the Board of Directors of MGM Resorts International, Vail Resorts, Inc., Sony Corporation and U.S. Bancorp, but Mr. Hernandez has announced that he will be stepping down from the Sony Board this year. He also served on the Board of Directors of Wal-Mart for 10 years. He is also a Member of the Harvard University Law School Board of Advisors. Mr. Hernandez holds J.D. and B.A. degrees from Harvard University.

Orient-Express Provides Update on Strategic Actions That Drive Value and Further Enhance Unparalleled Portfolio of Luxury Properties

Belmond ·19 December 2012
Completes sale of The Westcliff, JohannesburgEnters into agreement to sell Porto Cupecoy, Sint MaartenCombined cash price for both transactions of $45.0 millionRe-opens main building of Copacabana Palace, Rio de Janeiro after extensive renovationAnnounces renovation plans at Grand Hotel Europe, St. Petersburg and Charleston Place, South CarolinaOrient-Express Hotels Ltd. ("Orient-Express" or the "Company") (NYSE: OEH) today announced several actions reflecting the Company's strategy to increase the earnings power of its properties, optimize its unique portfolio of luxury travel assets, and further strengthen its balance sheet. The Company is selling two non-strategic properties for a total of$45.0 million in cash, has re-opened the main building of Copacabana Palace inRio de Janeiro after an extensive renovation, and has announced plans to commence significant renovations at two of its top-performing properties."We are moving forward aggressively in executing our portfolio optimization strategy. Consistent with our ongoing focus on redeploying capital into core, high-value properties, we intend to use the proceeds from the divestitures of The Westcliff and the Porto Cupecoy residential project to provide capital for our active re-investment program, which is designed to drive revenue growth and substantial incremental value from our one-of-a-kind properties and to further strengthen our financial position," saidJohn M. Scott, President and Chief Executive Officer.Mr. Scott continued: "The performance of our two recently refurbished Sicilian hotels - Grand Hotel Timeo and Villa Sant'Andrea - which delivered year-over-year local currency REVPAR growth of 25% for the nine months endedSeptember 30, 2012despite the challenging economic environment inEurope, shows the significant benefits of our portfolio re-investment strategy. In addition, the renovation of the main building of Copacabana Palace, one of our premier properties andSouth America'smost famous hotel, puts us in an excellent position to capitalize on the growing Brazilian market and the upcoming World Cup and Olympics."Completion of Sale of The Westcliff, JohannesburgThe Company has closed the previously announced sale of The Westcliff,Johannesburg. The purchaser, a joint venture partnership between Albwardy Investment, aDubai-based private investment company, and Hotels Properties Limited, based inSingapore, will retain Orient-Express as the manager of the hotel for a period of up to 12 months from closing while the new owner develops its long-term refurbishment plans.Sale Agreement for Porto Cupecoy,Sint MaartenOrient-Express has executed a definitive agreement to sell Porto Cupecoy, a real estate development inSint Maarten, to a local buyer. Orient-Express has retained ownership of four condominium units that were not part of the purchase agreement but are under contract. The principal transaction is expected to close within the next 30 days.The combined price of both transactions is$45.0 millionin cash, with net proceeds of$41.1 millionavailable to the Company for general corporate purposes. The proceeds from the pending sale of the four condominium units at Porto Cupecoy are expected to contribute an additional$3.9 millionto this total.Completion of Renovation of the Main Building of Copacabana Palace, Rio de JaneiroOrient-Express has completed the final phase of an approximate$20.0 millioncomprehensive refurbishment program at the main building of Copacabana Palace, a landmark property on Copacabana beach inRio de Janeiro. With a first phase in 2011, this program included the refurbishment of all 145 rooms and suites in the main building and significant enhancements to the lobby and public areas. This iconic hotel is now fully operational and strong growth in 2013 is anticipated.Renovations at Grand Hotel Europe,St. Petersburgand Charleston Place,South CarolinaDuring 2013, the Company plans to commence significant enhancement programs at two of its top-producing properties. At the iconic Grand Hotel Europe inSt. Petersburg, Russia, the Company will start a three-year project that will include the conversion of 19 rooms into six ultra-luxurious suites, including a two-bedroom presidential suite, a new food and beverage concept from a world-class restaurant designer, a fully renovated and expanded spa, and improved meeting rooms. The Company is arranging a new$50.0 millionloan agreement, which will provide$26.0 millionfor the renovation project,$5.2 millionfor the repayment of debt and costs, and the remaining$18.8 millionfor general corporate purposes.Also during 2013, the Company will initiate a phased, three-year rooms refurbishment at Charleston Place, which is one of Orient-Express' largest cash producers. In the first phase, which will be carried out over four months during the hotel's low season, the Company will renovate 145 keys. This phase is expected to be partially funded by$9.2 millionof additional borrowings on the hotel's existing loan facility.

Orient-Express Announces Sale of the Observatory Hotel

Belmond ·13 June 2012
Orient-Express Hotels Ltd. (NYSE: OEH, http://www.orient-express.com), owners or part-owners and managers of 46 luxury hotel, restaurant, tourist train and river cruise properties operating in 23 countries, today announced that it has entered into an agreement to sell The Observatory Hotel,Sydney, to an international luxury hotel group. Orient-Express will continue to operate the hotel until the transaction closes, which is expected to be on August 8, 2012."It is a key objective of the Company's previously stated long term strategy to optimize its global portfolio for the purpose of reinvesting capital and improving its balance sheet. We are pleased to have made such positive progress in this strategy over the first two quarters of 2012," commentedPhilip Mengel, Interim Chief Executive Officer, Orient-Express Hotels Ltd."Orient-Express believes in the long term potential of The Observatory Hotel, but it was not core to the Company's continuing business strategy. It will be acquired by a world class company that we are confident will make for a successful owner and employer that is committed to the hotel and its future."

Orient-Express Announces Board Nominees

Belmond ·23 April 2012
Orient-Express Hotels Ltd. (NYSE: OEH, http://www.orient-express.com), owners or part-owners and managers of 46 luxury hotel, restaurant, tourist train and river cruise properties operating in 23 countries, today announced that it has nominated nine directors for election to the Company's Board of Directors. The slate includes two new independent director nominees,Ruth A. Kennedy andJo Malone, as well as current directors, Chairman & Interim Chief Executive OfficerJ. Robert (Bob) Lovejoy,Harsha V. Agadi,John D. Campbell,Mitchell C. Hochberg,Prudence M. Leith,Philip R. Mengel, andGeorg R. Rafael. The nominees will stand for election at the 2012 Annual General Meeting of Shareholders onJune 7, 2012.Commenting on the nomination of two new independent directors,Prudence M. Leith, Chairperson of the Board's Nominating and Governance Committee said, "The addition ofRuth KennedyandJo Maloneto the Board of Directors will strengthen and enhance the Company's board and signal its commitment to remaining an unrivalled luxury business. Jo's entrepreneurship, spirit, leadership skills and experience in creating an internationally recognized brand of luxury fragrances and beauty products will make her a strong addition to the Board of Directors. Ruth's background in business development, finance and global luxury brands also makes her a great asset to the Company. We look forward to their strategic input and contribution to the future growth of Orient-Express."Ruth A. Kennedy, 47, foundedKennedy Dundas in 2009, a brand and business consultancy advising clients in the luxury goods and services sectors to meet their business development objectives. In 2006-2009, she served as head of Quinlan Private UK, aDublin-based real estate and private equity group managing commercial and residential properties inEurope including luxury hotels, where Ms. Kennedy was responsible for opening offices in theUnited Kingdom and establishing the firm's private client business in Europe. Before that position, Ms. Kennedy was 16 years withDavid Linley and Co., the bespoke furniture and design business in the U.K. where she served as Managing Director responsible for business development as well as day to day operations. She began her career at S. G. Warburg & Co as an investment banker. Ms. Kennedy is a Patron of the Elton John AIDS Foundation and founder of the Louis Dundas Centre for Paediatric Palliative Care at Great Ormond Street Hospital.Jo Malone MBE, 48, created of one of the world's most popular luxury fragrance and beauty product brands, "Jo Malone". In 1999, she and her husband,Gary Willcox, sold Jo Malone Ltd. to Estee Lauder Companies and she remained as Creative Director until her departure in 2006. Shortly afterwards, she was honored by the British government with an MBE for services to the beauty industry. In 2010, she created and presented the BBC One television series "High Street Dreams" in theUnited Kingdom featuring the successful brand development of small retail businesses. Most recently, inNovember 2011, capitalizing on her entrepreneurial and marketing skills in luxury products, Ms. Malone and Mr. Willcox launched a new brand of fragrance products called "JO LOVES".

Orient-express Hotels Announces The Opening Of Palacio Nazarenas, Cuzco, Peru, In June 2012

Belmond · 8 June 2011
Orient-Express today announced that its latest and most ambitious project to date, Palacio Nazarenas, a 55 suite hotel in a former palace and convent in Cuzco, Peru, will open in early summer 2012.The inauguration of Orient-Express' sixth hotel in Peru will be the culmination of a three year restoration project carried out under the guidance of eight full time archaeologists and the supervision of Peru's National Institute of Culture (INC).Its earlier life may have been one of strict religious observance, but a stay in Palacio Nazarenas will be anything but austere. Daily life in this urban retreat will encompass oxygenated suites crafted by local artisans, a full service spa offering an indigenous product range, iPads in every room loaded with insider city guides, Cuzco's first outdoor swimming pool, insightful tour experiences, and an all day dining experience showcasing contemporary Andean cuisine.Palacio Nazarenas will be an all suite hotel, with 16 chica suites, 29 suites, nine grand suites and one Nazarenas suite, many of which have fireplaces and views towards the hillside Inca site of Sacsayhuaman or Cuzco's cathedral in the Plaza del Armas. Each spacious bathroom will have under-floor heating and Peruvian travertine marble. Amenities include complimentary WIFI, iPad for use during stay pre-loaded with Cuzco city guides, newspapers, movies and restaurant suggestions, a mobile phone with city wide reception, espresso machine, in-room bar and Bose sound system.Cuzco is located 11,000 feet above sea level in the Andes mountain range. To combat the symptoms of altitude sickness, which sometimes include sleeplessness and headaches, oxygen delicately scented with healing essential aromas of Andean flowers and herbs will enrich the atmosphere of each suite via the ventilation system, enabling guests to build up a reserve in their bloodstream as they slumber.Guests will be able to complement their time spent exploring the Peru's ancient civilisations and vibrant culture by indulging body and soul at Palacio Nazarenas' spa. The spa will have four single treatment rooms and one double with private hot tub, which surround a patio reception area. The spa will offer a range of treatments inspired by Inca and Andean culture, created using indigenous Peruvian ingredients such as pink Andean salt, purple corn, flowers, herbs, honey, avocado, coffee and cocoa leaves.Hidden behind an ancient facade carved with serpents, which signifies knowledge, the heart and social hub of Palacio Nazarenas will be located within the largest of seven cloistered terraces, where an 7m x 11m heated infinity edge pool has been created, a first for Cuzco. Alongside the pool will be a restaurant under a conservatory roof, offering a menu of organic Andean cuisine.Each tranquil terrace and patio will be landscaped with indigenous flora and kitchen herbs, punctuated by fountains and flowing water channels echoing the irrigation channels of the agricultural terraces found in the Sacred Valley and at Machu Picchu.When Orient-Express and its joint venture partners acquired Palacio Nazarenas under a long term concession, the building consisted of Spanish colonial architecture dating back to 1715, alongside more modern structures. The renovation project has been part restoration and part new build, with the original 18th century features being preserved and the modern buildings replaced with new structures more in keeping with the original architectural design, with whitewashed adobe walls, bricked archways and wooden verandas and balconies, painted a vivid, cobalt blue to match the skies.Huge care has been taken over every stage of the construction process by architect, Enrique Palacio, and his team to ensure that the property's heritage has been respected. No heavy machinery was permitted on site, so all 9,000m3 of earth was excavated by hand. Whilst restoring the foundations of the original 18th century palace, often using spoons and brushes so as not to disturb the archaeology of the site, the team uncovered pre-Inca and Inca walls, some of which will become part of some guest rooms and public areas. Other artefacts and objects discovered during the restoration process will be exhibited in the hotel's library.The personality of Palacio Nazarenas has been created by a team of architects and interior designer, Janna Rapaport, to create a fun and vibrant atmosphere charged with light, wellbeing and creativity. Orient-Express has scoured Peru to find its best artisans, such as a collective of female textile weavers in the town of Chinchero in the Sacred Valley, a wood carving specialist who is undertaking a six month project to carve the hotel's reception desk, and Peru's best painting restorer to work on frescos uncovered during the renovation work.To the left of the heavy wooden doors marking the entrance to Palacio Nazarenas is a large chapel, which will be restored and preserved as a guest lounge. A turntable used by the nuns to sell sweets and stamps has been preserved, as has a smaller chapel dedicated to Senor de Huanca, which is reserved for private worship by local devotees.Palacio Nazarenas will connect its guests with Peruvian community and culture both ancient and modern through every aspect of the hotel experience. A boutique onsite will source quality local handicrafts, sold at fair-trade prices, showcased alongside the best of Peru's up and coming artists and fashion designers."Orient-Express has been operating authentic travel experiences and adventures in Peru through our hotels and trains since 1999, and this investment signals our continued commitment to the country," said Paul White, President & Chief Executive Officer. "The creation of Palacio Nazarenas has been a close collaboration between the Company and the archaeologists of the INC. We are delighted to have been able to make this positive contribution to keeping Peru's history alive and taking its luxury tourist offering to the next level."Cuzco is an ancient Inca capital and gateway to one of the great wonders of the world, the citadel of Machu Picchu, which is three hours away by Orient-Express' Hiram Bingham train through the magnificent Sacred Valley. Palacio Nazarenas will whisk guests the 15 minutes to Velasco Astete airport by hybrid car. Cuzco is approx. 1,000 km (or a 60 minute flight) from Peru's capital city, Lima.Palacio Nazarenas will become the sister property to the much awarded and lauded Hotel Monasterio, a 126 room former 16th century monastery owned and operated by Orient-Express since March 1999. These two siblings reside on Nazarenas square, just a few minutes by foot from both the Plaza de Armas, where Cuzco's Cathedral and most important museums are located, and the bohemian San Blas quarterSuites at Palacio Nazarenas will be priced from US$905 (from PS550) per night. The rate will include a la carte breakfast, oxygenated room and personal butler service. Follow our progress as Palacio Nazarenas prepares to make her debut at www.palacionazarenas.com

Orient-Express Hotels & the New York Public Library

Belmond ·22 March 2011
Orient-Express Hotels Ltd. (NYSE: OEH, http://www.orient-express.com), owners or part-owners and managers of 50 luxury hotel, restaurant, tourist train and river cruise properties operating in 24 countries, today announced that it has entered into an agreement to assign its purchase and development agreements made with the New York Public Library in regard to the site of the Donnell branch on West 53rd Street, New York City, to an affiliate of Tribeca Associates, LLC and Starwood Capital Group Global, LLC.The assignee is an affiliate combining significant hotel and real estate development expertise. It will assume all the terms and obligations of the original contract made between Orient-Express Hotels and the New York Public Library, including the reimbursement of all previous payments made by Orient-Express Hotels and the assumption of all future payments. Tribeca Associates and Starwood Capital Group Global intend to build a world-class hotel on the site, which is across from New York's Museum of Modern Art.Paul White, President and Chief Executive of Orient-Express Hotels Ltd. said, "Whilst economic circumstances prevented us from pursuing this development, we are delighted to see the project going ahead. We are pleased to recover our deposits, which will further help strengthen our balance sheet.""We're pleased that Tribeca Associates and Starwood Capital Group Global are moving forward on the terms of the existing contract, including the construction timetable. We will receive the full sale proceeds and are excited that we will have a wonderful new library in that location in the shortest time possible," said Angela Montefinise, Public Relations Director of the New York Public Library.About Orient-Express Hotels Ltd. | Orient-Express Hotels Ltd., listed on the New York Stock Exchange, ticker OEH, engages in the hotel, tourist train and cruise ship business. Orient-Express Hotels owns and manages 50 famous properties in 24 countries, including the Hotel Cipriani in Venice, the Copacabana Palace in Rio de Janeiro, the Mount Nelson in Cape Town, and the Charleston Place in Charleston, S.C. In addition, it owns the Venice Simplon-Orient-Express and Eastern & Oriental Express tourist trains, '21' Club in New York City and the "Road to Mandalay" cruise ship in Burma.About Starwood Capital Group Global, LLC | Starwood Capital Group is a private, U.S.-based investment firm with a core focus on global real estate. Since the group's inception in 1991, the firm, through its various funds, has invested nearly $8 billion of equity capital, representing over $25 billion in assets. Starwood Capital Group currently has approximately $16 billion of assets under management. Starwood Capital Group maintains offices in Greenwich, Atlanta, San Francisco, Washington, D.C., and affiliated offices in London, Luxembourg, Paris, Mumbai, Tokyo and Sao Paulo. Starwood Capital Group has invested in nearly every class of real estate on a global basis, including hotels, resorts, office, retail, residential, senior housing, golf and industrial assets. Starwood Capital Group and its affiliates have successfully executed an investment strategy that includes building enterprises around core real estate portfolios in both the private and public markets. Additional information about Starwood Capital may be found at http://www.starwoodcapital.com.About Tribeca Associates, LLC | Founded in 2000, Tribeca Associates LLC is a real estate investment and development firm focused on creating value through its extensive expertise in acquiring and developing a broad spectrum of real estate assets including commercial, residential and hospitality properties. Tribeca specializes in acquisitions, development, financing, leasing, property management, and construction oversight. Tribeca and its institutional capital partners have invested over one billion dollars in the past decade.

Orient-Express Hotels to Acquire Two Award Winning Hotels in Sicily

Belmond ·12 January 2010
The 83-key Grand Hotel Timeo (http://www.grandhoteltimeo.com) is widely considered the most luxurious hotel in Taormina and the nearby 78-key Villa Sant'Andrea (http://www.villasantandreahotel.com) has a private beach on the Bay of Mazzaro. Under the agreement, scheduled for completion in late January, Orient-Express Hotels will acquire both properties for a combined price of EUR81million ($117 million) including the assumption of existing financing of EUR44 million ($64 million), a new medium term bank loan of EUR6 million ($9 million) and vendor financing of EUR5 million ($7 million). The Company plans to invest EUR11 million ($16 million) in a major refurbishment program, to take place over three consecutive winter closures. The hotels will reopen to Orient-Express Hotels' standard in time for the 2010 summer season. Commenting on the transaction, Paul White, President and Chief Executive of Orient-Express Hotels said, "Having significantly strengthened our balance sheet in 2009 through the sale of non-core assets, we have identified this rare opportunity to acquire the internationally renowned Grand Hotel Timeo, with its sister hotel, Villa Sant'Andrea. Elements of this transaction meet every one of Orient-Express Hotels' investment criteria, including the unique and iconic status of the Grand Hotel Timeo; the location of the properties not only in Sicily, one of Italy's fast growing tourist destinations, but in Taormina itself; the financial upside; and of course, barriers to entry. "These hotels typify Orient-Express Hotels' core business - established properties with history and personality. Currently, they both punch below their weight and because they occupy a premier position in the Sicilian market, we are confident we can make significant improvements in performance, as we integrate the properties into the Orient-Express Hotels collection and bring RevPAR and operating margins in line with our existing Italian portfolio," White continued. "Our prudent approach to funding this financially accretive acquisition, along with the Company's continued disposal of non-core assets and sales of developed Real Estate, should ensure that we remain on track to achieve our key financial objective of deleveraging the Company's balance sheet by the end of 2011." Sicily Sicily, the largest Mediterranean island, has been growing in popularity as a tourist destination and was recently voted Conde Nast Traveller UK Readers' favorite holiday destination in the magazine's 2009 Travel Awards. The Grand Hotel Timeo is adjacent to one of the city's most famous attractions, the legendary Greek Theater, which dates back to the 2nd century AD. Below, looking out across the sea, Villa Sant'Andrea, built in 1830, is right on the beach. The two properties, linked by a private shuttle, have the synergy of Hotel Splendido and Splendido Mare, giving guests the best of both worlds Taormina has to offer. The city has good transport links and is located 40 minutes from Catania International Airport, which has direct flights to all major European cities and good connections to those serving the US. Grand Hotel Timeo Built in 1873, the Grand Hotel Timeo occupies an excellent position in the historical center of the city. From the hotel's panoramic terrace, guests can admire spectacular views of Mount Etna and the coastline. Since the 19th century and the era of the Grand Tour, the hotel has been popular with an elite group of international travellers, who choose to vacation here. Each guest room has its own terrace and the hotel's 'Il Dito e la Luna' restaurant specializes in regional Sicilian cuisine, in elegant surroundings. The Company anticipates that post refurbishment, The Grand Hotel Timeo will trade at RevPAR levels closer to those of its key Italian properties, Hotel Cipriani in Venice and Hotel Splendido in Portofino. Villa Sant'Andrea Villa Sant'Andrea is located on the Bay of Mazzaro, the heart of Taormina's seaside district. The atmosphere is that of a private villa set in lush gardens, with a private beach. Several of the hotel's suites open onto a private terrace. The 'Oliviero' restaurant, on a panoramic terrace overlooking the Calabrian coast, is known for its fish and seafood specialities. The Company anticipates that the Villa Sant'Andrea will trade, post the refurbishment which will lift it into a category of its own among the beachfront hotels, at RevPAR levels closer to those achieved at its properties Hotel Caruso in Ravello and Villa San Michele in Florence. Development Land At present, value has not been assigned to potential development land, as planning regulations in Italy are stringent. The Grand Hotel Timeo is built in 270,000 square feet of parkland and, although planning regulations forbid further development on the beach, opportunities still exist at Villa Sant'Andrea to build an additional 12 keys and a swimming pool. It is intended to pursue permits for development as previously presented to the authorities. The Company has agreed payment of a further EUR5 million ($7 million) to the vendors, should permits be granted to expand Villa Sant'Andrea and additional rooms constructed at the Grand Hotel Timeo. Orient-Express Hotels in Italy The successful completion of this transaction would bring the number of Orient-Express properties in Italy to eight. These include Hotel Cipriani and Palazzo Vendramin in Venice, Villa San Michele in Florence, Hotel Splendido and Splendido Mare in Portofino and Hotel Caruso in Ravello. Operating synergies, including marketing, sales, reservations, administration and engineering will assist in maximizing the earnings potential as the Company exits this challenging earnings cycle. Grand Hotel Timeo and Villa Sant'Andrea have been listed among the World's Best Hotels by readers of Travel and Leisure in both 2009 and 2010. The Andrew Harper Collection rates Grand Hotel Timeo as Sicily's best hotel. This news release and related oral presentations by management contain, in addition to historical information, forward-looking statements that involve risks and uncertainties. These include statements regarding earnings outlook, investment plans and similar matters that are not historical facts. These statements are based on management's current expectations and are subject to a number of uncertainties and risks that could cause actual results to differ materially from those described in the forward-looking statements. Factors that may cause a difference include, but are not limited to, those mentioned in the news release, unknown effects on the travel and leisure markets of terrorist activity and any police or military response, varying customer demand and competitive considerations, failure to realize hotel bookings and reservations as actual revenue, inability to sustain price increases or to reduce costs, rising fuel costs adversely impacting customer travel and the Company's operating costs, fluctuations in interest rates and currency values, adequate sources of capital and acceptability of finance terms made more difficult by the current crisis in financial markets and by weakening national economies, possible loss or amendment of planning permits and delays in construction schedules for expansion projects, delays in reopening after closing for repair or refurbishment and possible cost overruns, shifting patterns of tourism and business travel and seasonality of demand, adverse local weather conditions, changing global and regional economic conditions in many parts of the world and weakness in financial markets, and legislative, regulatory and political developments. Further information regarding these and other factors is included in the filings by the company with the U.S. Securities and Exchange Commission.

Orient-Express Hotels to Sell Lilianfels Blue Mountains, Australia

Belmond · 7 December 2009
Paul White, President and Chief Executive Officer of Orient-Express Hotels said, "This is further execution of our ongoing strategy to dispose of non-core businesses and brings the total proceeds realized in 2009 to over $105 million. We are delighted that this transaction, which represents 17 times the hotel's 2007 EBITDA and 23 times its 2008 EBITDA, once again underlines the value of properties in the Orient-Express portfolio." Orient-Express Hotels will continue to operate the hotel until the transaction closes, which is expected to be late January 2010.

Orient-Express Hotels Sells Windsor Court Hotel, New Orleans

Belmond · 5 October 2009
Orient-Express Hotels Ltd. (NYSE: OEH, http://www.orient-express.com), owners or part-owners and managers of 50 luxury hotels, restaurants, tourist trains and river cruise properties operating in 25 countries, today confirmed that it has concluded the sale of its New Orleans property, the Windsor Court Hotel, to The Berger Company, Inc. for $44.25 million. Orient-Express Hotels' President and Chief Executive Officer, Paul White said, "The Windsor Court Hotel is one of North America's finest properties, but today New Orleans is dominated by corporate and conference business. The foundation of Orient-Express Hotels' business model is delivering the highest level of product to our core customers, who today are leisure guests. Our focus going forward is to ensure that we maximize the value of our iconic properties and the unrivalled guest experiences they deliver around the world. We think this deal, at 15 times 2007 EBITDA, and over 50 times 2008 EBITDA, following on from the recent sale of our Lisbon property in June 2009, further demonstrates the inherent values of quality lodging real estate across the world."

Orient Express Hotels Ltd: Dissident Shareholders' Proposals Defeated

Belmond ·10 October 2008
The Company is grateful to its management and staff in its 51 properties around the world who have maintained their focus on running their businesses successfully and anticipating and satisfying the needs of customers throughout this period. The Company, its Board and management consider the matter addressed by the Special General Meeting to be closed, and will continue to focus on delivering shareholder returns and managing the business in the best interests of all its shareholders.

Orient-Express Hotels to Hold Special Shareholder Meeting

Belmond ·15 September 2008
HAMILTON, Bermuda, | Orient-Express Hotels Ltd. (NYSE: OEH, http://www.orient-express.com), owners or part-owners and managers of 51 luxury hotels, restaurants, tourist trains and river cruise businesses operating in 25 countries, announced today that it plans to hold a special shareholder meeting on October 10, 2008 to address a requisition by shareholders DE Shaw and SAC Capital that the Company (1) amend its bye-laws to treat class B shares as "treasury shares" under Bermuda law which would have the consequence (amongst others) that the Class B shares held by Orient-Express Holdings 1 Ltd would lose their right to vote and (2) cancel its class B shares. The Board of Orient-Express Hotels Ltd has serious doubts concerning the validity of the purported requisition. Nevertheless, in order to avoid a potentially protracted and expensive dispute, Orient-Express Hotels has determined to convene a special meeting to vote on the proposals from these shareholders. The Board of Directors of Orient-Express Hotels Ltd believes that these proposals are contrary to the best interests of the Company and will recommend that shareholders vote against the resolutions. The Board of Directors of Orient-Express Holdings 1 Ltd., the owner of all class B common shares of the Company, has adopted a resolution to vote all of its shares against the proposed resolutions at any special meeting. The Company's governance and share structure has been clearly described for the entire investment community since the Company's IPO in 2000. Accordingly, all investors reading the Company's public filings have had clear disclosure of the Company's structure readily available to them. The Company therefore believes this special meeting is an expensive and unproductive exercise. The Board of Directors and management of Orient-Express Hotels Ltd are confident that the Company's strategy as regularly outlined to investors is the best path to achieve long-term shareholder value. The Company continues to execute the key components of this plan by managing its portfolio to increase total revenue; expanding its business both organically and through strategic acquisitions; further developing its real estate in appropriate market conditions, and continuing to build its strong brands. Orient-Express Hotels is a hotel and travel company focused on the luxury end of the leisure market with many iconic and highly acclaimed properties. Founded in 1976 when the company acquired the Hotel Cipriani in Venice, Orient-Express has grown to encompass 51 businesses, including 41 highly individual hotels across five continents, two restaurants, two river cruise operations and six tourist trains, including the fabled Venice Simplon-Orient-Express which operates through Europe, linking London, Paris and Venice. Orient-Express chooses to own or part-own and manage its businesses, and continues to seek out unique properties with expansion potential and to introduce new experiences, restoring romance, glamour and style to international travel.

Orient-Express Hotels to Form Strategic Partnership With The Related Group

Belmond · 9 July 2008
HAMILTON, Bermuda, | Orient-Express Hotels Ltd. (NYSE: OEH, http://www.orient-express.com), owners or part-owners and managers of 51 luxury hotels, restaurants, tourist trains and river cruise businesses operating in 25 countries, today announced that it has signed a letter of intent to establish a 50/50 strategic partnership with The Related Group, a premier real estate developer in the United States, initially to develop hotels and residences in South Beach Miami; Cartagena, Colombia; and Panama City, Panama. Established in 1979, The Related Group is the leading builder of luxury condominiums with a current development portfolio of over $10 billion. It is well known for its innovative residential and mixed-use developments that have dramatically changed the urban landscape of Florida and other U.S. cities. Since its inception, the privately held company has built and managed more than 60,000 award-winning condominium and apartment residences in major markets throughout the United States. Related was founded and is still run by Chairman and CEO, Jorge M. Perez, named one of the top 25 most influential Hispanics in the United States by TIME magazine and winner of the Icon of Real Estate Award of Excellence at MIPIM in Cannes, France, the only American developer ever to have been honored with such a prestigious award. In the past year Related subsidiary Related International has established itself in Latin America with the launch of Icon Vallarta which has developments planned in locations such as Acapulco, Cabo San Lucas, Playa del Carmen and Zihuatanejo as well as Argentina, Uruguay and the Caribbean. The proposed strategic partnership plans to develop and operate multi-use projects that will include hotel, branded residential and commercial components. The letter of intent between The Related Group and Orient-Express Hotels contains a 90-day exclusivity period and is non-binding until detailed negotiations are completed. Initial projects, all planned to open in three years, include: a hotel with 28 luxury residences in the fashionable "SOFI" (south of fifth) area of South Beach Miami; an oceanfront hotel in Cartagena, Colombia, close to the old walled city which is a UNESCO World Heritage site; and a hotel on Avenida Balboa, Panama City, part of a major city-led waterfront development project. In each case, the hotel will be part of a wider development and will be managed by Orient-Express Hotels. Legendary for its history and beauty, Cartagena is a large city seaport on the Caribbean Sea on the Northern coast of Colombia. The city is the economic hub of the Caribbean region and a popular tourist destination. Its colonial walled city and fortress, built to protect the city from pirates, have the most extensive fortifications in South America and were designated a UNESCO World Heritage Site in 1984. Other attractions include the Gold Museum and the Palace of the Inquisition, as well as the Cathedral and the Convento de la Popa. Panama City is the capital and largest city of the Republic of Panama and is located at the Pacific entrance of the famous Panama Canal. Downtown Panama City is an important center for world banking and finance, and has a sophisticated hotel and restaurant scene, as well as a yacht club and marina. Panama la Vieja (Old Panama) which was sacked in 1671 and subsequently destroyed by fire, still remains a popular tourist attraction and the ruins, which were the starting point of expeditions that conquered the Inca Empire of Peru and the transit point for gold and silver to Spain in 16th century, are also preserved as a UNESCO World Heritage Site. Paul White, President and CEO of Orient-Express Hotels said, "We are very proud to have entered into this proposed strategic partnership with a company of the calibre of Related. Our development policy is clearly focused on high-end luxury properties which fit the Orient-Express customer profile and increasingly those customers are also interested in real estate opportunities. We strive to meet customer expectation while concentrating our own efforts on our core competencies - creating luxury travel experiences and hotels with exceptional standards of service. Related brings its many years of experience of the real estate marketplace and of creating innovative lifestyle developments. We believe this is a winning combination and look forward to developing it further." Jorge M. Perez, Chairman and CEO of The Related Group, commented, "As a leading developer of high-end condominiums in the United States and Latin America, we recognize Orient-Express as the ideal partner to bring a fresh, unparalleled cachet to our unique, luxury properties in South Beach, Cartagena and Panama City. Related will continue its critically-acclaimed success collaborating with world-renowned architects and designers to create landmark projects in global destinations. And now with Orient-Express contributing the most luxurious experience in accommodations and customer service, together we can offer our customers a lifestyle that sets new standards in class and quality." The Miami project will bring the number of Orient-Express properties in the United States to eight, including El Encanto, an estate of 1920s cottages which has been an integral part of Santa Barbara's social, cultural and architectural heritage for over 90 years and is currently undergoing a total renovation scheduled for completion in 2009. Subject to obtaining necessary permits and consents, the company will construct a luxury hotel at West 53rd Street in New York City housing contemporary dining, spa and wellness facilities, as well as expanded banqueting and dining space for the company's existing restaurant and dining business, '21' Club, scheduled to open in 2011. Orient-Express Hotels has been a major investor in South America since it acquired the Copacabana Palace Hotel, one of Rio de Janeiro's most famous landmarks, almost 20 years ago. Since that time, its portfolio in the region has expanded to encompass eight hotels in Peru, Brazil and Mexico, a restaurant in Argentina and the Peruvian railway operator, PeruRail, which operates a luxury train, the Hiram Bingham, between Cuzco and Machu Picchu.

Orient-Express Hotels Ltd. Announces Appointment of Martin O'Grady as Chief Financial Officer

Belmond ·12 November 2007
HAMILTON, Bermuda, Orient-Express Hotels Ltd. (NYSE: OEH) (http://www.orient-express.com), owners or part-owners and managers of 50 luxury hotel, restaurant, tourist train and river cruise properties operating in 25 countries, today announced that Martin O'Grady, 43, has been named the company' s new Chief Financial Officer, effective February 18, 2008. "We are delighted to welcome Martin to the Orient-Express management team," said Paul White, President and Chief Executive Officer of Orient-Express Hotels Ltd. "He brings a unique blend of experience in the financial sector and in luxury lodging, which will be invaluable as we continue to execute our growth strategy." Mr. O'Grady will join Orient-Express from European real estate investment management firm Orion Capital Managers, where he has been Chief Financial Officer since January 2006. Mr. O'Grady has overseen all financial and investor reporting, tax, treasury and legal administration of Orion and Orion sponsored funds. Orion, a commercial real estate investment manager on behalf of major investors from around the world, has offices in London, Milan, Munich and Paris. "I am thrilled to be joining the Orient-Express management team as CFO, and look forward to working with Paul and his team to continue building on the company's valuable brands," said Martin O'Grady. "While I have thoroughly enjoyed my time at Orion Capital Managers, this role at Orient-Express is an opportunity to fulfil my aspiration to work again with a leading hotel group with solid foundations and excellent opportunities for growth." Prior to joining Orion, Mr. O'Grady was CFO and an executive director of Access, one of Europe's leading self-storage businesses. He joined Access from Security Capital European Realty, where he had worked as a Vice President of Finance, after Security Capital invested in Access. Before joining Security Capital, Mr. O'Grady served in senior financial positions for seven years in Hong Kong and Indonesia with Jardine Matheson and Mandarin Oriental Hotel Group. He began his career with PricewaterhouseCoopers, serving as an Audit Manager in the UK and US. Mr. O'Grady has a BA in Hotel Management from Strathclyde University. He has also completed executive education programs at IMD and Ashridge. He is a Member of the Institute of Chartered Accountants in England & Wales.

Orient-Express Hotels and Dubai Holdings

Belmond ·22 October 2007
"As President and CEO of Orient-Express Hotels Ltd., I write to acknowledge your recent investment in Orient-Express. As you are fully aware our Board has previously advised you that Orient-Express had no interest in the transaction Dubai Group wished to discuss. It has been the view of the Board of Directors that the Company's standalone business strategy provided the best long-term value and opportunities for the Company and its shareholders. In addition, as you may be aware, the Company's structure gives it the ability to oppose effectively any proposals that it does not believe to be in the best interests of the Company and its shareholders. The Company will make full use of this authority where appropriate. "

Orient-Express Hotels Announces Management Appointments

Belmond ·16 September 2007
"Under our management structure to date, Orient-Express Hotels has grown significantly since the IPO in 2000," said Paul White, Chief Executive Officer. "To operate and further grow the business in the years ahead, we must harness the skills and talents of our senior managers. Today's realignment is the beginning of a process, which will continue to develop over the coming months."The executive management team is now as follows:Paul White | President and Chief Executive Officer, formerly Chief Financial OfficerNatale Rusconi | Vice PresidentNick Varian | Chief Development Officer, formerly Vice President Trains and Cruises and Asian Hotels, retaining responsibility for these businessesDean Andrews | Vice President, Real Estate Development, formerly Vice President, North AmericaFilip Boyen | Vice President, Operations, formerly Vice President, Africa, Latin America and AustralasiaMaurizio Saccani | Vice President, Italy, formerly Managing Director, Italy, taking on responsibility for Hotel Cipriani in addition to the other Italian propertiesRoger Collins | Vice President, Design and Technical Services, taking on responsibility for designPippa Isbell | Vice President, Corporate Communications, formerly Vice President, Public Relations, taking on responsibility for investor relationsDavid Williams | Vice President, Sales and Marketing, taking on responsibility for the co-ordination of revenue managementEdwin Hetherington | Vice President, General Counsel and SecretaryEight area managing directors will continue to manage single hotels, while taking on specific geographic responsibility. These executives will report to Filip Boyen.The company is now in the final stages of recruiting a new Chief Financial Officer. Website:

Simon Sherwood Resigns as President and CEO of Orient-Express Hotels LTD

Belmond ·20 February 2007
HAMILTON, Bermuda, February | Orient-Express Hotels Ltd. (NYSE: OEH, www.orient-express.com), owners or part-owners and managers of 49 luxury hotel, restaurant, tourist train and river cruise properties in 25 countries, today announced that President and Chief Executive Officer Simon Sherwood has tendered his resignation to pursue other interests. He will remain in his current position until August 2007 to facilitate the handover of duties to a new chief executive and will not stand for re-election as a director of the company at its annual general meeting of shareholders, expected to be held in June 2007. The Board of directors, while expressing its regret at Simon Sherwood's decision, thanks him for thirteen years of service during which the shareholder value of the Company was significantly enhanced. The Board will now begin the search to recruit a new chief executive.

James B. Sherwood, Founder and Chairman of Orient-Express Hotels to Retire from Executive Duties with the Company

Belmond · 4 December 2006
HAMILTON, Bermuda, Orient-Express Hotels Ltd. (NYSE: OEH announced today that James B. Sherwood, the Chairman and founder of the company, has expressed a wish for personal reasons to retire from his executive duties with the company. Mr Sherwood's wife has been unwell and he is unable to travel to the degree he has done in the past. With the ever increasing size of the company the travel burdens have become more than he, at age 73, wishes to undertake. Mr Sherwood will continue to serve as non-executive Chairman of the company until the next annual meeting of shareholders in June, 2007. After that, he will continue to serve as non-executive director with the characterization 'director and founder'. He will make his expertise available to the President/Chief Executive Officer as requested, including searching for new acquisitions. Mr Sherwood has been responsible for many of the company's acquisitions over the years. Mr Sherwood said, "The company has never been in better health, with wonderful prospects going forward. Now is the time to alter my role. I founded the company in 1976 with the purchase of the Hotel Cipriani and we have now grown to 49 properties in 25 countries with others on the horizon." Simon Sherwood, President and Chief Executive Officer, added, "The entire management team and I wish to congratulate my father on his extraordinary contribution to the company. I look forward to our future association in his new capacity."

Orient-Express Hotels to Acquire Pansea Hotels Group Immediately, 3 Years Early

Belmond · 5 July 2006
Orient-Express Hotels Ltd., (NYSE: OEH) (), announced today a major expansion of its business in South East Asia with the acquisition of the Pansea hotels group for approximately US$25 million. The transaction will be completed within the next 4 weeks, in advance of the high season which starts in August. On May 25, 2006 the company announced its acquisition of the 50% of the Napasai property in Koh Samui, Thailand, not owned by Pansea. Acquisition of the entire Pansea company (actually a Hong Kong company called HOSIA which owns the Pansea business) will result in considerable tax savings in HOSIA in connection with the Napasai transaction. In 2004 Orient-Express Hotels provided a convertible loan to HOSIA which was expected to convert into approximately 25% of HOSIA's equity. At the same time it entered into put/call arrangements which were expected to be exercised in 2009, resulting in Orient-Express Hotels buying the remaining 75% of HOSIA's equity at eight times 2008 EBITDA. The company believes that the US$25 million purchase price is slightly less than ten times annualized EBITDA projected for the remainder of 2006. Also, earnings from the two Bali properties have been depressed due to the most recent bombing on the island and the Ubud Hanging Gardens property being in its buildup phase, having only opened in July, 2005. Pansea's six properties are all unique. In the ancient capital of Laos, Luang Prabang, La Residence Phou Vao is considered the leading hotel in the area. In Yangon (Rangoon), Myanmar (Burma) the Governor's Residence, set in beautiful gardens in the Embassy District, is the best performing hotel in this city and links with the company's Road to Mandalay river cruise ship which operates between Mandalay and Pagan. The Napasai property in Koh Samui is a nearly new hotel, opened in February, 2004, and is the most luxurious hotel on the island, enjoying rapid growth, and has significant potential for residential development. In Siem Reap, Cambodia, La Residence d'Angkor, designed entirely in Khmer style and set in lovely gardens close to the famous Angkor Wat and surrounding temples, is the leading boutique property in the area. In Bali, Jimbaran Puri has the finest beachfront on the island while Ubud Hanging Gardens clings to the side of the famous Ubud Gorge. Ubud is the cultural center of the island. In total, inclusive of Napasai, 271 rooms are being acquired at an approximate cost of US$140,000 each. The six Pansea properties plus the Eastern & Oriental tourist train which operates between Singapore and Bangkok, and the Road to Mandalay cruise ship in Myanmar, give Orient-Express Hotels a meaningful presence in South East Asia and a platform on which to expand. When it appeared that HOSIA was unlikely to add additional properties before 2009 (although there is considerable scope for growth of the existing six hotels) and its owners signalled a willingness to sell earlier, Orient-Express Hotels decided to seize this opportunity to accelerate its expansion plans for South East Asia. Orient-Express Hotels intends to retain the excellent management team of Pansea both at the head office in Bangkok and at the six hotels and expects to use their skills to fuel the expansion in South East Asia. In due course the company will be considering additional properties in Singapore, Hong Kong, Vietnam and China. Mr. James B. Sherwood, Chairman, said that he had negotiated in 2003 the original transaction with Stanislas Rollin and Robert Molinari, the owners of HOSIA, after having been extremely impressed with the very special architecture, settings and high standards of cuisine which have been hallmarks of Pansea. The partnership arrangement worked smoothly and he thanked Messrs. Rollin and Molinari for making it so, adding that he hoped the company would be able to cooperate with them in other hotel projects in the future. Mr. Simon M.C. Sherwood, President, said that he was confident the Pansea acquisition would be a launchpad for the company in South East Asia, allowing it to move forward much more rapidly than if it had waited until 2009. He indicated that investment in the existing properties would be the first step. Descriptions of the Pansea properties including photographs can be viewed at http://media.corporate-ir.net/media_files/irol/12/122664/pansea_hotels.pdf Management believes that EBITDA (net earnings adjusted for interest expense, foreign currency, tax, depreciation and amortization) is a useful measure of operating performance, for example to help determine the ability to incur capital expenditure or service indebtedness, because it is not affected by non-operating factors such as leverage and the historic cost of assets. EBITDA is also a financial performance measure commonly used in the hotel and leisure industry, although the company's EBITDA may not be comparable in all instances to that disclosed by other companies. EBITDA does not represent net cash provided by operating, investing and financing activities under U.S. generally accepted accounting principles, is not necessarily indicative of cash available to fund all cash flow needs, and should not be considered as an alternative to earnings from operations or net earnings under U.S. generally accepted accounting principles for purposes of evaluating operating performance. This news release contains, in addition to historical information, forward-looking statements that involve risks and uncertainties. These include statements regarding purchase and expansion plans, future profitability and similar matters that are not historical facts. These statements are based on management's current expectations and are subject to a number of uncertainties and risks that could cause actual results to differ materially from those described in the forward-looking statements. Factors that may cause a difference include, but are not limited to, those mentioned in the news release, unknown effects on the travel and leisure markets of terrorist activity and any police or military response, varying customer demand and competitive considerations, realization of hotel bookings and reservations and planned property development sales as actual revenue, inability to sustain price increases or to reduce costs, fluctuations in interest rates and currency values, uncertainty of negotiating and completing proposed acquisitions and capital expenditures, adequate sources of capital and acceptability of finance terms, possible loss or amendment of planning permits and delays in construction schedules for expansion or development projects, delays in reopening properties closed for repair or refurbishment and possible cost overruns, shifting patterns of tourism and business travel and seasonality of demand, adverse local weather conditions, uncertainty of recovering on insurance claims for property damage and lost earnings, changing global and regional economic conditions, and legislative, regulatory and political developments. Further information regarding these and other factors is included in the filings by the company with the U.S. Securities and Exchange Commission.

Orient-Express Hotels To Acquire 100% Interest In Napasai, Koh Samui, Thailand

Belmond ·24 May 2006
The company will pay $25 million in total for the hotel, 8 adjacent villas that are available for sale and a large parcel of land suitable for development of about 40 additional villas. The hotel is being acquired for $13 million. Twelve month trailing EBITDA is over $1 million and 2006 calendar EBITDA is expected to be $1.4 million. The villas included in the sale are 8 remaining of an original 14 built (6 already sold) and are expected to be sold over the next twelve months for in excess of $6 million. The deal also includes $6 million of development land. The property was developed by Pansea, the company's strategic partner in the South East Asia region and has been managed since its opening under the Pansea Orient-Express brand. Pansea recently acquired the full interest in the property by acquiring the shares of its local 50% partner and will now sell the property to Orient-Express Hotels. Napasai was opened in February 2004 as a 55 key hotel together with 14 private villas for sale. The resort occupies around 100 rai of land (40 acres) in an exclusive beachfront location on the northern coast of the island. All of the existing cottages and villas which are set amidst coconut and cashew trees on sloping terrain have sea views and direct access to the beach which can only be accessed through the property. The existing resort development occupies around half of the available land leaving approximately 20 acres for further development. The island's leading golf course is close by. The famous Ang Thong marine nature reserve (the location of "The Beach" in the well known film) is a short distance by boat. Simon Sherwood, President, said "The purchase of Napasai marks the first formal step in our agreed acquisition of the six property Pansea group of hotels. It was logical because the hotel is new and has real estate development potential which fits with our other property developments at La Samanna, St. Martin and Maroma Resort & Spa in Mexico. "Koh Samui's proximity to the hub of Bangkok and its tranquil setting in the Gulf of Siam mean it is increasingly attracting the upper end travellers who used to go to Phuket. Special locations on the island are scarce and Napasai occupies one of the best". The hotel's occupancy is rising rapidly. Management believes that EBITDA (net earnings adjusted for interest expense, foreign currency, tax, depreciation and amortization) is a useful measure of operating performance, for example to help determine the ability to incur capital expenditure or service indebtedness, because it is not affected by non-operating factors such as leverage and the historic cost of assets. EBITDA is also a financial performance measure commonly used in the hotel and leisure industry, although the company's EBITDA may not be comparable in all instances to that disclosed by other companies. EBITDA does not represent net cash provided by operating, investing and financing activities under U.S. generally accepted accounting principles, is not necessarily indicative of cash available to fund all cash flow needs, and should not be considered as an alternative to earnings from operations or net earnings under U.S. generally accepted accounting principles for purposes of evaluating operating performance. This news release contains, in addition to historical information, forward-looking statements that involve risks and uncertainties. These include statements regarding earnings outlook, investment plans and similar matters that are not historical facts. These statements are based on management's current expectations and are subject to a number of uncertainties and risks that could cause actual results to differ materially from those described in the forward-looking statements. Factors that may cause a difference include, but are not limited to, those mentioned in the news release, unknown effects on the travel and leisure markets of terrorist activity and any police or military response, varying customer demand and competitive considerations, realization of hotel bookings and reservations and planned property development sales as actual revenue, inability to sustain price increases or to reduce costs, fluctuations in interest rates and currency values, adequate sources of capital and acceptability of finance terms, possible loss or amendment of planning permits and delays in construction schedules for expansion or development projects, delays in reopening properties closed for repair or refurbishment and possible cost overruns, shifting patterns of tourism and business travel and seasonality of demand, adverse local weather conditions, uncertainty of recovering on insurance claims for property damage and lost earnings, changing global and regional economic conditions, and legislative, regulatory and political developments. Further information regarding these and other factors is included in the filings by the company with the U.S. Securities and Exchange Commission.

Orient-Express Hotels Acquires 75% Shareholding in Casa de Sierra Nevada, San Miguel de Allende, Mexico, its 50th Property

Belmond · 8 February 2006
HAMILTON, Bermuda, Orient-Express Hotels Ltd. (NYSE: OEH, ), owners and operators of 49 deluxe leisure properties in 25 countries, today announced its latest acquisition, a 75 per cent interest in Casa de Sierra Nevada in San Miguel de Allende, Mexico, for US$8.4 million. Orient-Express Hotels will manage the property. The investment was made at a prior year EBITDA multiple of nine. The historic Casa del Parque and a further parcel of land are included, to allow for expansion. A doubling of the rooms is envisaged in due course. The company will immediately invest US$5 million in renovations and enhancements, including the development of 20 new suites (bringing the room count to 53) a full service spa and a new pool and garden area on the undeveloped parcel of land. Upon completion of the planned renovations and enhancements in 2007, the property can be positioned at the highest luxury level. Casa de Sierra Nevada will continue to operate during renovation and refurbishment of rooms. Low wages and construction costs, when combined with international room rates, make Mexican hotel investments exceptionally profitable. "This is a significant acquisition for Orient-Express, being the 50th property in our unique portfolio," said Mr. James B. Sherwood, Chairman. "San Miguel de Allende has been a center for discriminating visitors from the US and Latin America for many years and we look forward to expanding the reach of this very special property to other key markets." Opened in 1952, the hotel is located a few blocks from the main city square of San Miguel and was ranked as one of the top hotels in Mexico in the 2006 Cond Nast Traveler magazine's "Gold List" and Travel + Leisure magazine's T+L 500. The hotel's lobby, 33 existing guest rooms, two restaurants and bars are housed in nine 16th and 18th century Spanish colonial buildings, including Casa del Parque which was a fort in the 17th century and then a customs house catering to the silver trade; and Casa Principal, the former residence of San Miguel de Allende's Archbishop in 1580 and an official historical landmark. Each building, which features two to six rooms or suites, is different. Many feature outdoor courtyards with fountains, small gardens and al fresco corridors that create a true residential atmosphere. Guest rooms and suites capture the rich history of the area, featuring hand painted tiles, bovedas (curved/domed ceilings), polished copper sinks and original paintings by local artists. Founded in 1542, San Miguel de Allende is located 160 miles north of Mexico City and remains a relatively undeveloped antique city of the old world. During colonial days, San Miguel was the wealthiest town in silver-rich 'new Spain' and a centre of rebel activity during the struggle for Mexican independence. San Miguel de Allende was named a National Monument in 1926 by the Mexican National Institute of Anthropology and History, and later by the United Nations as a World Heritage Site. 6,400 feet above sea level, the city enjoys a mild climate year round, with cool evenings. It is a very green city, with trees, flowers and botanic gardens. The cobble-stoned streets are lined with palaces (dating from the 16th to 18th century) that today are a mixture of private residences, galleries, restaurants and boutiques. Said to capture the 'real Mexico', the main plaza is still the social pulse of the city, bullfighting season is awaited with much anticipation and Siesta takes place from 2pm to 4pm daily. Guests may fly into either Mexico City (a three and a half hour drive away) or the Guanajuato-Leon Airport (one and a half hours away). The Guanajuato-Leon Airport has direct flights from Dallas, Los Angeles, Houston and Chicago. The main north/south motorway from Texas passes within 20 miles of San Miguel de Allende and it is a 10 hour drive from the border. Orient-Express Hotels' partner is James Sprowls, a local rancher and developer, along with his wife Marta Villanueva Sprowls, who is a jewelry designer and San Miguel's honorary Counselor to Spain for the States of Guanajuato and Queretaro. This is Orient-Express Hotels' second property in Mexico. The Maroma Resort and Spa on the Yucatan Peninsula was acquired in March 2002.

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